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Superconductor Technologies Inc To Raise $2.18 Million In Registered Direct Offering

Wednesday, 24 Apr 2013 01:00pm EDT 

Superconductor Technologies Inc announced that it has entered into a definitive agreement with institutional investors for a registered direct placement of approximately $2.18 million of common stock at a price of $4.25 per share. In addition, the Company will issue to the investors warrants to purchase up to an aggregate of 513,827 shares of common stock. The warrants have an exercise price of $5.45 per share, and are exercisable 12 months and one day after issuance. One half of the warrants terminate two years after the date of issuance and the other one half terminate six years after the date of issuance. 

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